Ostium Labs offers a non-custodial exchange protocol based on the Arbitrum blockchain that enables users to trade perpetuals tied to real-world assets. These include commodities like oil and foreign exchange pairs for the Australian dollar, pound, and yen. Furthermore, the protocol leverages Chainlink’s low-latency data streams to support a novel pricing fee mechanism. The company plans to launch its testnet in Q4 2023.
Key customers and partnerships
In September 2023, the company partnered with Chaos Labs, an on-chain risk management solutions provider, to create a risk modeling and monitoring system. Designed to minimize the liquidity pool directional risk, the system offers hyperbolic funding rates and skew-dependent opening fees and enables the protocol to offer fully on-chain settlement and matching.
Funding and financials
In October 2023, Ostium Labs raised USD 3.5 million led by General Catalyst and LocalGlobe to support the launch of its flagship protocol.
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